Cathay Pacific Airways has joined many of its counterparts in reporting huge fuel-hedging losses, plunging the previously profitable Asian carrier into an expected record loss for last year, the South China Morning Post reported. The loss on Cathay's fuel-hedging contracts as of the end of last month amounted to around US$980.1 million, deepening from the $361.1 million loss estimated to have been incurred at the end of October, according to the third profit warning filed by the airline in … [Read more...] about Cathay loses US$980 million on hedging gamble
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China Eastern Airlines
Europe & CIS : China Eastern links Copenhagen to Shanghai
China Eastern Airlines has begun operating a new service from Copenhagen to Shanghai via Frankfurt. Passengers will once again be able to fly from Copenhagen Airport to Shanghai on China Eastern Airlines’ service to Frankfurt, which will be extended to Copenhagen twice a week:Thursdays and Saturdays. … [Read more...] about Europe & CIS : China Eastern links Copenhagen to Shanghai
China : China East books loss for Jan-Sept period
China Eastern Airlines Corp Ltd said it expects to book a net loss for the first nine months of 2008 under Chinese accounting standards. The airline said in a statement to the Shanghai Stock Exchange that its operations had deteriorated significantly in the third quarter due to a slowing aviation market and a dramatic fall in transport demand from a year earlier. The upward adjustment in the price of jet fuel also led to a significant increase in operating costs, China Eastern said. In late … [Read more...] about China : China East books loss for Jan-Sept period
Europe & CIS : China Eastern links Copenhagen to Shanghai
China Eastern Airlines has begun operating a new service from Copenhagen to Shanghai via Frankfurt. Passengers will once again be able to fly from Copenhagen Airport to Shanghai on China Eastern Airlines’ service to Frankfurt, which will be extended to Copenhagen twice a week:Thursdays and Saturdays. … [Read more...] about Europe & CIS : China Eastern links Copenhagen to Shanghai
China: Possible China Eastern, Shanghai Air merger
China Eastern Airlines’ (CEA) president Cao Jinxiong said recently that government shareholders in his company and Shanghai Airlines (SA) are discussing a merger of the two carriers, the Wall Street Journal reported. He said that the government plans to inject capital into CEA before merging it with SA, at which point the combined entity would consider a possible stake sale to Singapore Airlines. “Both [deals], with Shanghai Airlines and Singapore Airlines are possible. But for sure … [Read more...] about China: Possible China Eastern, Shanghai Air merger
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